Bank Reconciliation

You should on a regular basis reconcile your bank accounts in Xero.  The bank reconciliation confirms all the transactions in the bank accounts are recorded in your business accounting records and may identify problems with your Xero file. 

For more information on bank reconciliation in Xero visit https://central.xero.com/s/article/Bank-reconciliation-in-Xero

 

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• Bank Reconciliation Summary

  You should on a regular basis run the bank reconciliation summary (recommend at the end of each month) to check the actual bank balance and the balance of the bank account in Xero match.  For more information on running this check in Xero ...

• Bank Feeds

  Your Xero file should be set up to automatically import bank transactions into your Xero file.  If you have a bank account that isn’t importing into Xero please refer to the instructions at https://central.xero.com/s/article/Bank-feeds

• Create a bank rule

  Xero Tip to Save You Time – Bank Rules (refer the link below)   Create a bank rule (xero.com)

• Opening a Formation Bank Account

  Please refer to QBSI 6.3 for the requirements regarding bank accounts. Scouts Queensland currently have their operating bank account with Westpac Banking Corporation.  There are advantages for Formations holding bank accounts with Westpac, as this ...

• Aged Payables Summary Report

  We recommend that you regularly review your Aged Payables Summary Report to identify any overdue accounts to ensure suppliers are paid in a timely manner.  You should ensure that all bills have been entered and the bank reconciliation is up to date ...